Wash. Court of Appeals published opinion — D2 59088-3-II Published Opinion.pdf

Citation: Wash. Court of Appeals published opinion — D2 59088-3-II Published Opinion.pdf
Jurisdiction: Washington (state)
Source verification: official_capture_completeness_unverified
Original Source: https://www.courts.wa.gov/opinions/pdf/D2%2059088-3-II%20Published%20Opinion.pdf ↗

Related Parts of This Source

Full Text

1,598 chars

constitute[] prima facie evidence of the validity and amount of the claim[s].” RCW 7.60.210(4).

RCW 7.60.230 provides a schedule of claim priorities for general receiverships.

Specifically, “[a]llowed claims in a general receivership shall receive distribution under this

chapter in the order of priority under (a) through (h) of this subsection and, with the exception of

(a) and (c) of this subsection, on a pro rata basis.” RCW 7.60.230(1). Secured creditors with liens

on the receivership estate property hold first position in the distribution of estate proceeds. RCW

7.60.230(1)(a).

However, the receiver may recover from property securing an allowed secured claim
the reasonable, necessary expenses of preserving, protecting, or disposing of the
property to the extent of any benefit to the creditors. If and to the extent that the
proceeds are less than the amount of a creditor’s allowed claim or a creditor’s lien is
avoided on any basis, the creditor is an unsecured claim under (h) of this subsection.
Secured claims shall be paid from the proceeds in accordance with their respective
priorities under otherwise applicable law.

RCW 7.60.230(1)(a). Additionally,

[a]ctual, necessary costs and expenses incurred during the administration of the
estate, other than those expenses allowable under (a) of this subsection, including
allowed fees and reimbursement of reasonable charges and expenses of the receiver
and professional persons employed by the receiver under RCW 7.60.180.

12
For the current opinion, go to https://www.lexisnexis.com/clients/wareports/.

No. 59088-3-II